Magnolia Oil & Gas raised its full-year 2026 standalone production-growth guidance to approximately 6% from 5% after reporting record second-quarter output of 106,100 barrels of oil equivalent per day, an 8% year-over-year increase. The company also provided details on its pending acquisition of WildFire Energy, a deal valued at approximately $4.06 billion that is expected to close late in the third quarter and would add about 53,000 barrels of oil equivalent per day of production and 810,000 net acres to Magnolia's Giddings position. Magnolia generated $235 million in free cash flow during the quarter and returned $80 million to shareholders through dividends and share repurchases, while raising its quarterly dividend to $0.18 per share. The acquisition is expected to be funded with roughly half equity and half debt, and management said reducing debt would be the top use of free cash flow beyond the shareholder-return program, with net debt to EBITDA expected to fall below one times by year-end 2027.
Magnolia Oil & Gas CorpRaises 2026 production growth guidance and details $4.06B WildFire acquisition, with strong Q2 output and increased dividend.
Acquired by Magnolia in a $4.06B deal, providing value to WildFire shareholders.
